- If you withdraw funds from your SRS account before retirement, you can still continue to contribute to SRS after the withdrawal. However, you may no longer contribute to SRS if you start withdrawing from your SRS account: (i) at or after the statutory retirement age that was prevailing when you made your first SRS contribution, or; (ii) on medical grounds.
Under what situations am I not be allowed to contribute to my SRS account?
You may no longer contribute to SRS after you start withdrawing from your SRS account:
(i) at or after the prevailing statutory retirement age that was prevailing when you made your first SRS contribution, or;
(ii) on medical grounds.
Can i use cpf fund to invest in SRS scheme?
No. All SRS contributions must be made in cash.
After the SRS operator has computed my SRS contribution cap for the year, is it mandatory for me to make a contribution up to the cap set?You can contribute any amount up to your SRS contribution cap.
Can an SRS operator stop accepting an SRS contribution before 31 December?The cut-off date for SRS contribution (at any SRS operator) is a commercial decision. SRS members should ask their SRS operator about the cut-off date for SRS contributions.
Can a retiree who is under the statutory retirement age of 62 years make SRS contributions with the money that he has withdrawn from his CPF account?Anyone can make SRS contributions at any age, unless they have started withdrawing from the SRS: i) at or after the statutory retirement age that was prevailing when you made your first SRS contribution, or; ii) on medical grounds.
Can I make SRS contributions in the form of investments (i.e. transfer investments into my SRS account)?No. All SRS contributions must be made in cash.
Do I need to contribute regularly to SRS?No. You may contribute to SRS at any time and as often as you wish on or before 31 December each year* but your total annual contributions cannot exceed the SRS contribution cap. (* Only applicable if you are still able to contribute to the SRS.)
If a person is a non-PR in the current year but is a PR in the next year, what will his SRS contribution cap be in the next year?If a person is a non-PR in 2001 but is a PR in 2002, his SRS contribution cap in 2002 should be computed at the rate of 15%, which is the rate applicable to a PR.
Is my SRS contribution cap as a foreigner still valid if I obtain Singapore Permanent Resident (SPR) status in the later part of the year?No, a pro-rated contribution cap applies. You should contact the SRS operator to have your contribution cap recalculated.